Notes to Accounts of Crown Tours Ltd.

Mar 31, 2015

Note : 1

The Company has only one class of shares referred to as equity shares
having a par value of Rs. 10/- Each Holder of equity shares is entitled
to one vote per share and dividend as and when declared by the Company.

In the event of liquidation of the company, the holders of equity
shares will be entitled to receive any of the remaining assets of the
company, after the distribution of all preferential amounts.

Note : 2

EMPLOYEES BENEFIT: AS-15

As per Accounting Standard 15 "Employee Benefits", disclosure of
employee benefits as defined in the accounting standard are given
below:

(a) Defined Contribution Plan

Company has made fixed contribution to Provident Fund at predetermined
rates to Provident Fund Commissioner of Rajasthan. The obligation of
the Company is limited to contribution. Amount recognized as expense in
Statement of Profit and Loss for the year is as under:

(b) Defined Benefit Plan-

The Company has defined benefit gratuity plan. Every employee who has
rendered continuous service of five years or more is entitled to get
gratuity at 15 days for each completed year or more subject to
provisions of The Payment of Gratuity Act, 1972. Company has invested
to meet its such liability with Life Insurance Corporation of India
under Group Gratuity Scheme. The liability for the same is recognized
as per actuarial valuation by LIC.

Note : 3

(a) Details of contingent liabilities as on 31.03.2015are as under

(a) Claims against company not acknowledged as debt of Rs. 151,200
(P.Y. 151,200)

Company has entered into agreement with Harwar Park & Spa (P) Ltd.
and Academy for Research & Training (India) (P) Ltd. (companies under
the same management) for taking the property of each company on lease;
security deposits amounting to Rs. 8,00,000 and Rs.15,00,000 have been
paid respectively to these companies.

Note : 7

There are no Micro and Small Enterprise to whom the company owes
dues on account of principal amount together with interest which are
outstanding for more than 45 days at the Balance Sheet date. Such
information and that given in "Trade Payables- Note No:-5" regarding
Micro and Small Enterprises has been determined to the extent such
parties have been identified on the basis of information available with
the company.

Note : 8

Balances of creditors, advances, debtors and other parties are
subject to their confirmation.

Note : 9

The Company's equity share got listed with BSE Ltd. w.e.f. July 4th
2014, under the direct listing norms. The equity shares of the company
were listed with Delhi and Jaipur Stock Exchanges. However, the said
regional stock exchanges have been closed.

Note : 10

All assets and liabilities are presented as Current or Non-current
as per criteria setout in Revised Schedule III to the Company's Act,
2013. Based on the nature of services rendered by the company, its
operations and realization, the company has ascertained its operating
cycle of less than 12 months. Accordingly 12 months period has been
considered for the purpose of Current / Non-current classification of
assets & liabilities.

Note : 11

Figures of the current & previous year have been rounded off to the
nearest rupees. Figures of previous year have been regrouped &
rearranged to make them comparable with the current year's figures.

The Company has only one class of shares referred to as equity shares
having a par value of Rs. 10/- Each Holder of equity shares is entitled
to one vote per share and dividend as and when declared by the Company.

In the event of liquidation of the company, the holders of equity
shares will be entitled to receive any of the remaining assets of the
company, after the distribution of all preferential amounts.

Reconciliation of the number of shares outstanding

Equity shares Equity shares
Particulars As at As at
31.03.2014 31.03.2013

Shares outstanding at the
beginning of the year 3,100,000 3,100,000

( ) Shares Issued during the year - -

(-) Shares bought back during the year - -

Shares outstanding at the end
of the year 3,100,000 3,100,000

EMPLOYEES BENEFIT : AS-15

As per Accounting Standard 15 "Employee Benefits", disclosure of
employee benefits as defined in the accounting standard are given
below:

(a) Defined Contribution Plan

Company has made fixed contribution to Provident Fund at predetermined
rates to Provident Fund Commissioner of Rajasthan. The obligation of
the Company is limited to contribution. Amount recognized as expense in
Statement of Profit and Loss for the year is as under:

The Company has defined benefit gratuity plan. Every employee who has
rendered continuous service of five years or more is entitled to get
gratuity at 15 days for each completed year or more subject to
provisions of The Payment of Gratuity Act, 1972. Company has invested
to meet its such liability with Life Insurance Corporation of India
under Group Gratuity Scheme. The liability for the same is recognized
as per actuarial valuation by LIC.

3 Company has entered into agreement with Harwar Park & Spa (P) Ltd.
and Academy for Research & Training (India) (P) Ltd. (companies under
the same management) for taking the property of each company on lease;
security deposits amounting to Rs. 8,00,000 and Rs.15,00,000 have been
paid respectively to these companies.

4 The Company had taken a Key man Insurance Policy of Managing
Director Shri Bharat Raj Bhandari which has been surrendered during the
previous year. Amount realised Rs. 25,00,439 has been account for as
other income.

5 There are no Micro and Small Enterprise to whom the company owes
dues on account of principal amount together with interest which are
outstanding for more than 45 days at the Balance Sheet date. Such
information and that given in "Trade Payables- Note No:-5" regarding
Micro and Small Enterprises has been determined to the extent such
parties have been identified on the basis of information available with
the company.

6 Balances of creditors, advances, debtors and other parties are
subject to their confirmation.

7 Vehicles valuing Rs. 21,24,500/- (P.Y. Rs. 29,81,616/-) having W.D.V
of Rs. 10,23,900/- (Rs. 16,84,190/- as on 31.03.2014 are awaiting
registration in the name of the company. However, the same has been
used exclusively for the purpose of business.

8 The Company had filled an application with BSE Ltd. for listing of
its equity shares under the direct listing norms. The information
memoradum and other related documents have been filed with BSE Ltd. on
29th January, 2014.

9 All assets and liabilities are presented as Current or Non-current
as per criteria set out in Revised Schedue VI to the Company''s Act,1956
Notified by the Ministry of Corporate affairs vide Notification No.
SO447(E) Dated 28th Feburary,2011 and SO653(E) Dated 30th March,2011.
Based on the nature of services rendered by the company, its operations
and realization, the company has ascertained its operating cycle of
less than 12 months. Accordingly 12 months period has been considered
for the purpose of Current / Non-current classification of assets &
liabilities.

10 Figures of the current & previous year have been rounded off to the
nearest rupees. Figures of previous year have been regrouped &
rearranged to make them comparable with the current year''s figures.

Mar 31, 2013

1 (a) Details of contingent liabilities as on 31.03.2013 are as under
:-

(Amount in Rs.)

Particulars 31.03.2013 31.03.2012

(a) Claims against company not
acknowledged as debt 151,200 151200

(b) Counter guarantees provided by
company to banks against guarantees
given by them - 1593000

4 Company has entered into agreement with Harwar Park & Spa (P) Ltd.
and Academy for Research & Training (India) (P) Ltd. (companies under
the same management) for taking the property of each company on lease;
security deposits amounting to Rs. 8,00,000 and Rs.15,00,000 have been
paid respectively to these companies.

5 The Company had taken a Key man Insurance Policy of Managing
Director Shri Bharat Raj Bhandari which has been surrendered during the
year. Amount realised Rs. 25,00,439 hass ben account for as other
income.

6 There are no Micro and Small Enterprise to whom the company owes
dues on account of principal amount together with interest which are
outstanding for more than 45 days at the Balance Sheet date. Such
information and that given in "Trade Payables- Note No:-5" regarding
Micro and Small enterprises has been determined to the extent such
parties have been identified on the basis of information available with
the company.

7 Balances of creditors, advances, debtors and other parties are
subject to their confirmation.

8 Vehicles valuing Rs.29,81,616/- having W.D.V of Rs.16,84,190/- as on
31.03.2013 are awaiting registration in the name of the company.
However, the same has been used exclusively for the purpose of
business.

9 All assets and liabilities are presented as Current or Non-current
as per criteria setout in Revised Schedue VI to the Company''s Act,1956
Notified by the Ministry of Corporate affairs vide Notification No.
SO447(E) Dated 28th Feburary,2011 and SO653(E) Dated 30th March,2011.
Based on the nature of services rendered by the company, its operations
and realization, the company has ascertained its operating cycle of
less than 12 months. Accordingly 12 months period has been considered
for the purpose of Current / Non-current classification of assets &
liabilities.

10 Figures of the current & previous year have been rounded off to the
nearest rupees. The figures of the previous year have been regrouped &
rearranged to make them comparable with the current year''s figures.

Mar 31, 2012

1 (a) Details of contingent liabilities as on 31.03.2012 are as under
:-

(Amount in Rs.)

Particulars 31.03.2012 31.03.2011

(a) Claims against company not
acknowledged as debt 151200 140400

(b) Counter guarantees provided by
company to banks against guarantees
given by them 1593000 1593000

4 Company has entered into agreement with Blossom Holidays (INDIA) (P)
Ltd., Crystal Park Resorts (P) Ltd., Harwar Park & Spa (P) Ltd. and
Academy for Research & Training (India) (P) Ltd. (companies under the
same management) for taking the property of each company on lease;
security deposits amounting to
Rs.0,(Rs.50,00,000),Rs.0,(Rs.21,00,000),Rs. 8,00,000, (Rs.8,00,000) and
Rs.15,00,000,(Rs.15,00,000) have been paid respectively to these
companies. The agreement with Blossom Holidays (INDIA) (P) Ltd. and
Crystal Park Resorts (P) Ltd. has been terminated during the current
year.

5 The Company had taken a Key man Insurance Policy of Managing
Director Shri Bharat Raj Bhandari coverage under this policy is
continuing as on 31.03.2012. Premium for the year amounting to Rs.Nil
(Previous Year Rs. Nil/-).

6 There are no Micro and Small Enterprise to whom the company owes
dues on account of principal amount together with interest which are
outstanding for more than 45 days at the Balance Sheet date. Such
information and that given in "Trade Payables- Note No:-5" regarding
Micro and Small enterprises has been determined to the extent such
parties have been identified on the basis of information available with
the company.

7 Balances of creditors, advances, debtors and other parties are
subject to their confirmation.

8 Vehicles valuing Rs.29,81,616/- having W.D.V of Rs.19,67,444/- as on
31.03.2012 are awaiting registration in the name of the company.
However, the same has been used exclusively for the purpose of
business.

9 All assets and liabilities are presented as Current or Non-current
as per criteria setout in Revised Schedue VI to the Company''s Act,1956
Notified by the Ministry of Corporate affairs vide Notification No.
SO447(E) Dated 28th Feburary,2011 and SO653(E) Dated 30th March,2011.
Based on the nature of services rendered by the company,its operations
and realization, the company has ascertained its operating cycle of
less than 12 months. Accordingly 12 months period has been considered
for the purpose of Current /Non-current classification of assets &
liabilities.

10 Figures of the current & previous year have been rounded off to the
nearest rupees. The figures of the previous year have been
reclassified, regrouped & rearranged to make them comparable with the
current year''s figure to comply with the requirement of Revised
Schedule VI.

Mar 31, 2011

1. (a) Contingent liabilities not provided for:

(Rs. in Lacs)
AS AT AS AT
31.3.2011 31.3.2010

(i) Claims against company not
acknowledged as debt 1.40 1.30

(ii) Counter guarantees provided by
company to banks against 15.93 15.93
guarantees given by them

2. Disclosures with regard to mandatory Accounting Standard :- (a) As
per accounting Standard 15 "Employee Benefits", disclosure of employee
benefits as defined in the accounting standard are given below:

(b) Defined Benefit Plan-

The Company has defined benefit gratuity plan. Every employee who has
rendered continuous service of five years or more is entitled to get
gratuity at 15 days for each completed year or more subject to
provisions of The Payment of Gratuity Act, 1972. Company has invested
to meet its such liability with Life Insurance Corporation of India
under Group Gratuity Scheme. The liability for the same is recognized
as per actuarial valuation by LIC.

Actuarial Assumptions:

Discount Rate : 8% per annum

Mortality : LIC (1994-96) mortality tables

Withdrawal Rate : 1% to 3% depending on age

Salary Escalation : 7%

Valuation Method : Projected Unit Credit Method

The value of plan asset and present obligation at the end of the year
is Rs. 18,82,938/- and Rs. 16,71,206/- respectively. The excess of plan
asset over present obligation Rs. 2,11,732 (PY Rs. 2,17,538) has been
set out as prepaid expenses in Schedule-6.

(A) At present the company is carrying only the activity of tourism
business, hence Accounting Standard - 17 "Segment Reporting" is not
applicable. Accordingly segment-wise reporting is not given.

(B) Accounting Standard - 18 "Related Party Disclosure"

The company has identified all the related parties having transactions
during the year as per details given as under:

1. Relationships: -

a) Associate companies

- Bhandari Tourism Finance Pvt. Ltd.

- Academy for Research & Training (India) Pvt. Ltd.

- Harwar Park and Spa Pvt. Ltd

- Blossom Holidays Pvt. Ltd.

- Cross Country Adventure (A unit of HEPL India Pvt. Ltd.)

- Crystal Park Resorts Pvt. Ltd.

b) Key management personnel

- Mr. Bharat Raj Bhandari

- Mr. Kamlesh Bhandari

c) Relatives of key management personnel and their enterprises where
transactions have taken place.

- Mrs. Shaila Bhandari

- Mrs. Suman Bhandari

- Mrs. Kanchan Bhandari

- Mrs. Chirali Bhandari

- Mrs. Shalini Bhandari

- Mr. Vipul Bhandari

- Mr. Sagar Mal Bhandari

- Mrs. Ranju Bhandari

- Ms. Sanvi Bhandari

- Mr. Alok Bhandari

- Mr. Manish Bhandari

- Mstr. R. R. Bhandari

- Mr. T. R. Bhandari

- Mrs. Alpa Bhandari

- Mrs. Meera Bhandari

2. Transactions carried out with related parties referred in (1)
above, in ordinary course of business.

6. Receivables include Rs. NIL (Previous year Rs. 4.26 Lacs) due from
Company, Blossom Holidays Pvt Ltd, under the same management within the
meaning sub section (1-B) of section 370 of the Companies Act, 1956.
Company has entered into agreement with Bhandari Tourism Finance (P)
Ltd., Crystal Park Resorts (P) Ltd., Harwar Park & Spa (P) Ltd. and
Academy for Research & Training (India) (P) Ltd. (companies under the
same management) for taking the property of each company on lease;
security deposits amounting to Rs. 50 lacs, Rs. 21 lacs, Rs. 8 lacs,
and Rs. 15 lacs have been paid respectively to these companies.

7. The Company had taken a Key man Insurance Policy of Managing
Director Shri Bharat Raj Bhandari. Premium for the year amounting to
Rs.Nil (Previous Year Rs.Nil/-) The coverage under this policy is
accounting as on 31.03.2011.

8. There are no Micro, Small and Medium Enterprises to whom the
company owes dues on account of principal amount together with interest
which are outstanding for more than 45 days at the Balance Sheet date.
Such information and that given in "Current Liabilities Â Schedule 8"
regarding Micro and Small Enterprises has been determined to the extent
such parties have been identified on the basis of information available
with the company.

9. Balances of creditors, advances, debtors and other parties are
subject to their confirmation.

10. Vehicles valuing Rs. 29,81,616/- having W.D.V. of Rs. 22,50,697/-
as on 31.03.2011 are awaiting registration in the name of the company.
However, the same has been used exclusively for the purpose of
business.

11. Figures of Balance Sheet, Profit and Loss account and related
Schedules have been rounded off to the nearest rupee. Figures of
previous year have been regrouped and rearranged, wherever necessary,
to make them comparable.